Raymond Del Nero Resigns From NJCUL Board

Citing personal reasons, Raymond Del Nero, president/CEO of the $1.8 billion Merck Employees Federal Credit Union in Rahway, N.J., has resigned from his position on the New Jersey Credit Union League Board of Directors effective immediately.

“Ray was an integral member of the Board and we are very sorry to see him leave. His perspective of the industry and his passion for helping all credit unions in N.J. will be missed,” said Louis Vetere, NJCUL board chair and president/CEO of the $281 million Garden Savings Federal Credit Union in Parsippany, N.J.

The NJCUL board of directors will be accepting submissions from candidates interested in filling the vacant position on the board.

According to the NJCUL’s bylaws, “the person selected to fill the vacancy shall be required to run for election in the next election following their appointment, for the balance of the remaining term, if any.”

Del Nero’s term is to expire at the end of 2014, meaning this appointment would expire at that time, in either scenario.

“I would like to thank Ray for his service on the board of directors. Although it has only been a short time since my arrival at the league,” said NJCUL President/CEO Greg Michlig said. “I appreciate the support he has given me and recognize his many contributions to the credit unions of New Jersey.”

As a part of its charter, the Governance Committee of the NJCUL board of directors shall review and determine candidate eligibility according to the NJCUL bylaws and nomination/election rules. Interested candidates are to complete the Special Call for Nominations Form and submit it to Governance Committee Chair Leo Ardine no later than Oct. 30.

Because Del Nero was a Tier C “At-Large” director, the Governance Committee will accept submissions from qualified candidates of any asset size credit union, the league said.

The NJCUL board will then consider the qualified candidates and fill the vacancy no later than Nov. 15, the league said.